notice of general meeting

Resolution 1 - Share Placement Facility

Here we go again, no way am i in agreement of this proposal as i have allready suffered 2 capital raisings since being a shareholder and on each occasion my investment has gone backwards, especially since the last SPP @ $0.43 is still having an effect on the current share price.

The current share price is $0.405 so if we take 80% of that the shares will be issued at $0.32 x 40,000,000 raises a total of $12,800,000 less costs.
Management state that the shares will be placed at their discretion????
They state that this would be used for Wonarah, well with what they have in the bank plus this they are still miles short of what they need to get the show into production.
The longer this project is now dragging on the more disallusioned i am becoming with the MAK management team.
Andrew is on another junket in Brussels as i write and in the meantime we are fed the same old story over and over in his releases which is what i expect the attendees in Brussels will endure.
Legend on the other hand are at the same time guiding Indian potential customers over their Queensland operation.
I have asked Dean whether the BFS will be released as stated (March 2010) and the reply states, "at this stage i have not been informed of any change in relation to the expected completion of the feasability study"
Now that comment does not fill me with any confidence that their Investor Relations Manager has any idea just what is going on in the company if you take into account that March ends next week?
Shareholders in MAK need to be made fully aware of the current status of Wonarah and the only way that can happen is for the BFS to be made public as stated by the company, ie MARCH 2010 as it has allready been put back from September 2009.
This obligation by the company needs to happen even if the news is not palletable, simply so we can make a informed decision re our investments.